Android is an open-source operating system developed by Google and the Open Handset Alliance. It allows developers to write managed code in Java and includes features like multi-tasking, a rich development platform, and support for a variety of media formats. The Android architecture consists of four main layers - applications, application framework, libraries and runtime, and the Linux kernel. Some key advantages of Android include customization options, better notifications, choice of hardware, and a large app market. Disadvantages can include less control over malware in the app market and inconsistent updates from device manufacturers.